Wednesday, 2 July 2014

Questions (60)

Stephen Donnelly

Question:

60. Deputy Stephen S. Donnelly asked the Minister for Finance further to the sale by Bank of Ireland of its ICS Building Society loanbook to Dilosk Limited, if he will, as a substantial shareholder in Bank of Ireland, confirm the number of mortgages that were sold; the par value of the loans; the sale price; the number of loans classed as being impaired; and if he will make a statement on the matter. [28616/14]

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Written answers (Question to Finance)

Bank of Ireland made an announcement to the Stock Exchange on 26 June in relation to the agreement to sell the ICS distribution platform, together with mortgage assets, to Dilosk Limited.

In this announcement, the Bank confirmed that the mortgage assets involved amounted to €250m, were performing, and were sold at par.

The full announcement can be found at:

http://www.bankofireland.com/fs/doc/wysiwyg/eu-restructuring-plan-update-26-june-2014.pdf

The number of mortgages sold was not included in the announcement and I have been informed by the Bank that it does not disclose details beyond what has been announced to the Stock Exchange.